JOHANNESBURG, June 22 (Reuters) – South African freight
logistics group Transnet [TRAN.UL] still expects to move 70
million tonnes of export coal to port by rail in its 2011-12
financial year, a senior official said on Wednesday.
Transnet transported 62 million tonnes in the financial year
to the end of March 2011 and problems on the line have put its
current target in doubt. But Divyesh Kalan, a general manager at
Transnet, said the group was still working towards that.
MELBOURNE/JOHANNESBURG, June 9 (Reuters) – Shares in
Australian iron ore miner Territory Resources (TTY.AX: Quote, Profile, Research, Stock Buzz) jumped
rose by over 10 percent on Thursday after commodities firm Noble
Group (NOBG.SI: Quote, Profile, Research, Stock Buzz) made a A$132.6 million (US$141 million) bid,
trumping an offer from South African miner Exxaro (EXXJ.J: Quote, Profile, Research, Stock Buzz).
The offer of A$0.50 a share from Hong Kong-based Noble
Group, which already owns 30 percent of Territory, is 9 percent
better than Exxaro’s bid and 6 percent above Territory’s last
JOHANNESBURG, May 30 (Reuters) – South Africa’s power
utility Eskom [ESCJ.UL], which is struggling to keep the lights
on, has been interrupting supplies to BHP Billiton’s (BHP.AX: Quote, Profile, Research)
(BLT.L: Quote, Profile, Research) aluminium smelters to help manage its tight supplies.
Eskom’s spokeswoman Hilary Joffe said on Monday that under a
special pricing agreement signed between the utility and BHP in
the 1980s Eskom can temporarily interrupt supplies to the
smelters, but only for up to two hours a week.
JOHANNESBURG, May 23 (Reuters) – South African diversified
miner Exxaro (EXXJ.J: Quote, Profile, Research, Stock Buzz) bid $130 million in cash for Australia’s
Territory Resources (TTY.AX: Quote, Profile, Research, Stock Buzz), making a pricey wager to expand
into iron ore mining.
Exxaro, one of South Africa’s largest coal miners, said on
Monday it had offered A$0.46 per Territory share, representing
a 64 percent premium to the last closing price. The deal values
Territory at A$123 million ($130 million), Exxaro said.
JOHANNESBURG, May 17 (Reuters) – Impala Platinum (IMPJ.J: Quote, Profile, Research, Stock Buzz)
cut its output target on Tuesday and its chief executive said
Zimbabwe’s drive to wrest majority local stakes from foreign
mining firms could curb future expansion in the country.
David Brown, the CEO of the world’s second biggest producer
of the metal, said the group would now likely produce 1.82
million ounces of platinum in its financial year which ends in
June from an original forecast of about 1.85 million ounces.
JOHANNESBURG, May 6 (Reuters) – Petrochemicals group Sasol
(SOLJ.J: Quote, Profile, Research, Stock Buzz) said on Friday that David Constable will replace Pat
Davies who steps down as chief executive in July.
Canada-born Constable is the first non-South African to lead
the group and the first external chief executive appointment in
its 60-year history.
JOHANNESBURG, May 5 (Reuters) – The global supply of
platinum is expected to rise slightly this year, with upcoming
wage talks in top producer South Africa not expected to have a
big impact, research firm GFMS said on Thursday.
The GFMS said overall supply is expected to rise by around
500,000 ounces this year from the 6.19 million ounces produced
by mines last year. Including scrap, supply stood at 7.69
million ounces last year, it said. [ID:nL9E7EA00H]
JOHANNESBURG, May 5 (Reuters) – South African papermaker
Mondi (MNDJ.J: Quote, Profile, Research, Stock Buzz) warned rising input costs were putting pressure
on its margins as it posted a rise in first-quarter profit,
driven by higher prices and sales.
Mondi said cost hikes would be more moderate than the 12
percent rise seen last year.
JOHANNESBURG/LONDON, May 4 (Reuters) – Aquarius Platinum
(AQP.L: Quote, Profile, Research, Stock Buzz) said it would boost its resource base by nearly a
quarter as it announced a mineral rights acquisition that
analysts say is a game changing deal for the platinum miner.
Aquarius has agreed to buy mineral rights for the southern
part of Booysendal, adjacent to Aquarius’ own Everest mine,
from South Africa’s Northam Platinum (NHMJ.J: Quote, Profile, Research, Stock Buzz), for 1.2 billion
rand ($181 million).
JOHANNESBURG, March 31 (Reuters) – South Africa’s energy
regulator on Thursday granted freight logistics firm Transnet a
59.9 percent increase in fuel pipeline tariffs for 2011/12, less
than half of what it wanted, to help pay for a new pipeline.
Transnet [TRAN.UL] said in December that the cost for the
pipeline, meant to replace a line from Durban to Johannesburg
built in 1965, had doubled after the company revised the
schedule and scope of the project. [ID:nLDE6B70UO]
Charl Moller, chief executive of Transnet’s pipeline unit,
said he welcomed the decision, even though the state-owned firm
had requested that tariffs be raised by 128 percent.